Informed i’s Weekly Business Insights
Extractive summaries and key takeaways from the articles carefully curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Since 2017 | Week 373, November 1-7, 2024 | Archive
5 Things Entrepreneurs Can Learn From the Harris and Trump Election Campaigns
Written by Elizabeth Gore | Inc Magazine | November 6, 2024
Extractive Summary of the Article | Read | Listen
2 key takeaways from the article
- The Kamala Harris campaign has raised a record $1 billion in just three months. Can you imagine pulling that off in your next venture round, and that fast? The Trump campaign kept consistently raising money through his loss and four years of civilian life to the tune of $371.9 million between January 2023 and September 30, 2024. Could you bring that kind of funding to your company if you fail at a major milestone?
- Five areas to replicate for the entrepreneurs: keep the message simple, use influencers, along with digital reach deeper into your community with your products physically (direct sale/message), keep your product messaging consistent, and make sure that a day doesn’t go by without a message going out about how awesome your company is.
(Copyright lies with the publisher)
Topics: Startup, Entrepreneurship, Marketing, Consistency, Advertising, Promotion
Click for the extractive summary of the articleThe Kamala Harris campaign has raised a record $1 billion in just three months. Can you imagine pulling that off in your next venture round, and that fast? The Trump campaign kept consistently raising money through his loss and four years of civilian life to the tune of $371.9 million between January 2023 and September 30, 2024. Could you bring that kind of funding to your company if you fail at a major milestone? There are also record sales of branded merchandise for both parties sold through social media, TV, and snail mail—from pocket knives to bibles to tennis shoes. So what can you glean from the Harris and Trump campaigns for your business? Here are five areas to replicate:
- Simple messaging. Have you noticed how simple both campaigns’ messaging and slogans are? Harris’s one word: freedom. Trump’s: MAGA. They also have utilized some word choices over and over. For Harris: weird, joy, prosecutor. For Trump: America, great, winning. It is said that most Americans’ comfort level is reading at an eighth-grade pace. This means simplicity, repetition, and common words. When you read billboards or see commercials, these same principles stand. In marketing your product, follow these tactics so customers understand quickly and simply what you do, what you are selling, or who you are. Remember: KISS (keep it simple, stupid).
- Use of influencers. Both campaigns have used third-party endorsers to promote their candidacy, from Oprah to Kid Rock to former presidents. They have social-media influencers getting out the vote on TikTok, Snapchat, and Instagram. Podcasts have also been a major tool. Our trust level is higher with people we already follow or feel local to us. We will sometimes believe and trust what they say more than the candidates themselves. Who is helping you market your products? Get testimonials from individuals with large followings, as well as your everyday customers. Push testimonials out often, and ask others to share your messaging. Make sure you are using social media and related tools to sell your goods on these platforms.
- Ground game. How much snail mail have you received about local and federal elections? How about yard signs in your neighborhood, or someone knocking on your door to say why they support a candidate? Do you know why? It still works. Snail mail, local conversations, and seeing who your neighbors are supporting sways your opinion. Before you go digital-only, think about how to reach deeper into your community with your products.
- Consistency. Candidates use the same messaging over and over and over. You will hear patterned points that are made in every speech. Their TV commercials will echo those song sheets. It generally takes us hearing something seven times before it sinks in. Keep your product messaging consistent in all advertising and marketing. Also, encourage your employees to talk about your company in the same way. If your customers were asked to describe your company, would they all say the same thing?
- Momentum. Have you seen the candidates crisscrossing the country, not letting a day or even an hour go by without a push for their candidacy? You will see them and their spokespeople promoting all the way until the polls close. Take advantage of blitzes in your business. Use holiday momentum, back-to-school season, and surges in the economy to increase receipts. Don’t ever slow down, and make sure that a day doesn’t go by without a message going out about how awesome your company is.
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